۱- The increasing role of the customer

۲- The notion of value

۳- Value creation and customer communities

۴- The study

۵- A conceptual framework of customer value formation

۶- Managerial implications

۷- Summary

References

Abstract

Despite tremendous interest in how online communities create value, existing research tends to focus on limited means through which such value is generated. In this article, we develop a conceptual model of customer value formation. This model rests on two dimensions, namely whether value is formed in the customer or provider domain and whether the value is individual or collective in nature. This enables value formation to be characterized in four ways and enables a more nuanced view of value formation to emerge. Firms are encouraged to reflect on their efforts to support each of the four value formation types. In particular, our conceptualization challenges companies to consider customer contexts outside of customer-firm interaction as important sources of value creation for customers. Such reflection enables practitioners to develop strategies for supporting individual and collective value creation across both the customer and provider domains.

The increasing role of the customer

Customer value–defined as the value customers derive from products, services, or brands-is a topic of extensive interest among marketing academics and practitioners alike. It is widely recognized as a key concept in marketing and one of the main drivers of business success. Value is recognized as being co-created by the provider and the customer (Grönroos, 2006; Payne, Storbacka, & Frow, 2008). This realization is part of a larger shift in how marketers understand value. The fact that customers and firms have different value-creating processes implies value is created in different domains and is no longer entirely in the firm’s control (Heinonen et al., 2010). Managers are increasingly aware of the need to understand customers’ roles in firms’ activities, such as those evident in service process blueprinting or customer journeys (Bitner, Ostrom, & Morgan, 2008; Voss & Zomerdijk, 2007). The increasing role of customer participation amplifies the need to understand how customers orchestrate value (Heinonen et al., 2010). Such understanding requires recognizing the individual and collective aspects of value (Macdonald, Kleinaltenkamp, & Wilson, 2016) and, as mentioned, that value creation is not always controlled by a company.